"What you also know is that at this stage of the central planning war, equity markets going up really has nothing to do with real-growth anyway," CEO Keith McCullough wrote in today's Morning Newsletter. "It has everything to do with Japan, Europe, USA, China, etc. trying to resuscitate drowning inflation expectations.
On that real-time score, as you can see in today’s Chart of The Day (US TIPS, 5 year Breakevens), so far… no good.
While the 2 day China rate cut “pop” in everything inflation expectations that’s been dropping was fun to watch, it didn’t change #Quad4 Deflation expectations. Both global growth and inflation expectations are still slowing, at the same time."